Coca-Cola Co.

, NOPAT calculation
USD $ in millions

Net income attributable to shareowners 12 months ended Dec 31, 2018 Dec 31, 2017
of The Coca-
Cola Company 6,434 1,248
Deferred (decrease)
Increase income tax inexpense (benefit)
allowance for doubtful -450 -1,256
accounts 12 11
Increase (decrease) in equity equivalents -438 -1,245
Interest expense 919 841
Interest expense, operating lease obligations 10 9
Adjusted interest expense 929 850
Tax benefit of interest expense -195 -297
Adjusted interest expense, after taxes 734 552
(Gain) loss on marketable securities 255 -103
Interest income -682 -677
Investment income, before taxes -427 -780
Tax expense (benefit) of investment income 90 273
Investment income, after taxes -337 -507
(Income)
Net incomeloss fromattributable
(loss) discontinued operations, net of tax
to noncontrolling 251 -101
interest 42 35
Net operating profit after taxes (NOPAT) 6,685 -18
Source: Based on data from Coca-Cola Co. Annual Reports

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Copyright © 2019 Stock Analysis on Net
Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
6,527 7,351 7,098
-856 73 -40
114 21 270
-742 94 230
733 856 483
9 9 12
742 865 495
-260 -303 -173
483 562 322
-140 -80 -57
-642 -613 -594
-782 -693 -651
274 243 228
-508 -450 -423
– – –
23 15 26
5,782 7,572 7,253